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Judge keeps competition case against NSW Ports anchored
ACCC 2020-03-05 5:00 pm By Alison Eveleigh Sydney

A maritime development company has failed in its bid to resume its competition lawsuit against NSW Ports, with the Federal Court ordering that the proceedings remained stayed until a similar case brought by the competition regulator is heard.

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TAL refutes ASIC claims, stands by denial of coverage for cancer patient
ASIC 2020-02-24 2:24 pm By Cat Fredenburgh Melbourne

Life insurer TAL has stood by its decision to deny coverage to a cancer patient, which landed it in hot with the Australian Securities and Investments Commission, saying it would not have issued the policy had it known the patient saw a psychologist on several occasions.

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Judge overstepped in accepting Pacific National undertaking, ACCC tells appeals court
ACCC 2020-02-17 4:30 pm By Christine Caulfield Melbourne

The judge who dismissed the ACCC’s challenge to Pacific National’s acquisition of Aurizon’s Acacia Ridge Terminal in Queensland had no power to accept an undertaking by the rail operator as an answer to the competition regulator’s case, an appeals court has been told.

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ACCC cartel investigator admits ‘oversight’ in comfort letter to JPMorgan
ACCC 2020-02-14 10:51 pm By Miklos Bolza Sydney

An ACCC officer who was heading up a team investigating alleged cartel conduct by ANZ Banking Group and three investment banks has admitted that the regulator may have made an ‘oversight’ in a letter of comfort offered to JPMorgan ahead of the bank’s immunity application in the case.

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ACCC officer denies anything ‘sinister’ in examination of ANZ cartel witness
ACCC 2020-02-12 9:17 pm By Miklos Bolza Sydney

During another day of cross-examination in a criminal cartel case against ANZ and two investment banks, a key ACCC officer was accused of lying about his interrogation of a key cartel witness, with the officer insisting there was nothing “sinister” in his examination.

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‘You’re lying’: ANZ attacks ACCC witness on crucial cartel evidence
ACCC 2020-02-11 10:06 pm By Miklos Bolza Sydney

An ACCC investigator has come under fire from ANZ as the bank seeks to shoot holes in the criminal cartel action against it, with counsel for the bank accusing the regulator of “infecting” witness statements and erasing testimony that weakened its case.

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ACCC investigator shoots down claims of impropriety in ANZ cartel case
ACCC 2020-02-10 9:15 pm By Miklos Bolza Sydney

A key officer from the ACCC involved in interviewing JPMorgan bankers during a cartel investigation that led to criminal charges against ANZ and two investment banks has denied allegations that he acted improperly during the investigation.

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ANZ wins fight for ASIC docs in cartel case, but battle might not be over
ACCC 2020-02-07 3:10 pm By Miklos Bolza Sydney

ANZ has won access to documents the bank claims are crucial to its defence in a high stakes criminal cartel case, but the Australian Securities and Investments Commission has flagged a possible appeal of the ruling.

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Don’t expect ‘Rolls Royce’ ruling, frustrated cartel magistrate says
ACCC 2020-01-31 11:26 pm By Cat Fredenburgh Sydney

A sideshow evidentiary dispute in a committal hearing in a landmark criminal cartel case against ANZ and two investment banks has drawn to a close, but not before testing the patience of a magistrate, who warned her ruling would be far from a “Rolls Royce decision”.

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JPMorgan slams ANZ’s ‘conspiratorial allegations’ of collusion by regulators
ACCC 2020-01-31 10:18 pm By Miklos Bolza Sydney

JPMorgan has taken ANZ to task for its “heroic endeavours to create an air of suspicion” around the conduct of ASIC and the ACCC prior to the filing of a landmark criminal cartel case, slamming the allegations as purely speculative.

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